Bancassurance Officer

Job Purpose:

• The Bancassurance Officer is responsible to provide a crucial role in bridging cooperative financial services with insurance solutions.

Roles & Responsibilities:

• Market and sell insurance products to SACCO members in collaboration with partner insurance companies.
• Educate members and staff on available insurance products and benefits.
• Source new insurance business and grow the SACCO’s insurance portfolio.
• Handle insurance documentation, policy issuance, renewals, and endorsements.
• Assist members in claims processing and follow-up to ensure timely settlement.
• Maintain accurate records of insurance sales, premiums, and commissions.
• Ensure compliance with Insurance Regulatory Authority (IRA) guidelines and SACCO policies.
• Prepare periodic performance reports on bancassurance activities.
• Build and maintain strong relationships with insurance partners and SACCO members.
• Promote a culture of accountability, integrity, and continuous improvement within the SACCO.

Minimum qualifications:

• Bachelor’s degree in business administration, Finance, Insurance, Marketing, or a related field.
• Diploma holders with strong insurance experience may be considered.
• Professional qualification in insurance (ACII, AIIK, or COP) is a MUST.
• At least 2 years’ experience in bancassurance, insurance sales, or financial services.
• Valid IRA certification/licensing will be an added advantage.
• Strong sales, marketing, and negotiation skills.
• Excellent communication and customer service skills.
• High level of integrity, professionalism, and attention to detail.
• Computer literacy and familiarity with core banking systems is desirable.

Key Skills and Competencies:

• Strong knowledge of SASRA Regulations, Sacco Societies Act, and prudential guidelines.
• Proven ability to conduct risk-based audits and internal control reviews.
• High level of integrity, independence, and ethical conduct.
• Excellent analytical, report-writing, and presentation skills.
• Good understanding of ICT systems and automated SACCO environments.
• Strong interpersonal, relation management and communication skills.
• Result-oriented and self-motivated.
• Ability to work independently and under minimal supervision.
• Good analytical and reporting skills.
• Sound financial management and analytical skills.
• Proven people management and organizational leadership skills